Proficio Capital Partners LLC Purchases New Position in Alcoa Co. (NYSE:AA)

Proficio Capital Partners LLC purchased a new position in shares of Alcoa Co. (NYSE:AA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 32,377 shares of the industrial products company's stock, valued at approximately $1,223,000.

Other institutional investors have also recently bought and sold shares of the company. Mountaineer Partners Management LLC raised its holdings in shares of Alcoa by 4,023.0% in the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company's stock worth $416,505,000 after buying an additional 10,534,036 shares in the last quarter. State Street Corp increased its holdings in Alcoa by 23.3% during the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company's stock valued at $368,965,000 after purchasing an additional 1,805,915 shares in the last quarter. Paloma Partners Management Co increased its holdings in Alcoa by 11,317.8% during the 3rd quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company's stock valued at $55,084,000 after purchasing an additional 1,415,294 shares in the last quarter. Geode Capital Management LLC raised its position in Alcoa by 42.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company's stock valued at $161,838,000 after purchasing an additional 1,239,479 shares during the last quarter. Finally, ARGA Investment Management LP grew its holdings in shares of Alcoa by 29.6% during the fourth quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company's stock worth $113,276,000 after purchasing an additional 684,505 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company's stock.

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Wall Street Analysts Forecast Growth

AA has been the topic of several research reports. BMO Capital Markets upped their price target on shares of Alcoa to $43.00 and gave the stock a "hold" rating in a research report on Friday, January 17th. JPMorgan Chase & Co. increased their price target on shares of Alcoa from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, January 16th. HC Wainwright boosted their price objective on shares of Alcoa to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. B. Riley upgraded shares of Alcoa to a "strong-buy" rating in a research report on Tuesday, January 21st. Finally, Bank of America raised their price objective on shares of Alcoa to $58.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $50.17.

Alcoa Trading Down 1.3 %

NYSE:AA traded down $0.45 on Monday, reaching $33.50. The company's stock had a trading volume of 4,796,555 shares, compared to its average volume of 5,242,347. Alcoa Co. has a 1-year low of $27.12 and a 1-year high of $47.77. The business's 50-day moving average price is $35.29 and its two-hundred day moving average price is $38.06. The firm has a market cap of $8.67 billion, a PE ratio of -209.39, a PEG ratio of 0.19 and a beta of 2.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. Equities research analysts anticipate that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.19%. Alcoa's dividend payout ratio (DPR) is presently -250.00%.

Alcoa Profile

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.